'It's hard to remember how fraught it was': Mark Carney on the credit crunch
by Larry Elliott and Jill Treanor from on (#2Y9GB)
Speaking to the Guardian 10 years on from the crash, the Bank of England governor recalls how the crisis played out
When the financial crisis started in August 2007, the reaction of many of the participants was similar to that of the first world war generals in August 1914: they thought it would all be over by Christmas.
Mark Carney, the governor of the Bank of England, said that when the markets started to seize up, some of the major players reckoned it was just a blip and that things would soon be back to normal.
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